Business
LG Boss Wants Oil Firms To Stop Patronising Criminals

The Chairman Caretaker Committee of Ogba/Egbema/Ndoni Local Government Area (ONELGA), Barr Osi Olisah has expressed dismay over the activities of some multinational oil companies and other corporate organisations which romance with criminals and outlaws in the area.
Speaking with newsmen in Omoku, headquarters of ONELGA, at the wake of the New Year killings in the area last Friday, the C.T.C chairman, said oil companies should concentrate in the discharge of their corporate social responsibilities rather than patroniSing criminals through cash offers and other incentives.
He emphasiSed that most criminals who disturbed the peace of the area receive patronages from oil firms, who prefer to hobnob with them rather than rendering development services to the communities.
The council boss urged oil companies operating in the area to contribute their quota towards the promotion of sustainable peace and development by working with other key stakeholders to tackle the security challenges. He consoled with the families of the victims of the New Year massacre and lauded the Rivers State Governor over his concern and commitment towards tackling the security challenges in the state.
Similarly, the Rivers State Commissioenr of Police, Zaki Ahmed, has also appealed to multinational companies operating in ONELGA, to support the police through the provision of incentives to fight crime and insecurity in the area.
The police boss disclosed this while briefing newsmen on the Omoku killings in his office recently.
Taneh Beemane
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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